1.1.M.25 Maximum amount (FTB advance)
|If 7.5% of the individual's adjusted Part A rate is …||the individual's maximum amount of family tax benefit advance is …|
|greater than or equal to 23.3%* of the standard rate for a child under 13 years||23.3%* of the standard rate for a child under 13 years.|
|less than 23.3%* and greater than 7.5% of the standard rate for a child under 13 years||7.5% of the individual's adjusted Part A rate.|
|less than or equal to 7.5% of the standard rate for a child under 13 years||7.5% of the standard rate for a child under 13 years.|
* 23.3% of the standard rate for a child under 13 is taken to be $1,202.54 for the 2022-23 financial year.
The maximum amount of an FTB advance for an eligible individual who is a member of a blended family is their blended family percentage of the maximum amount as calculated in the table above.
If one or more previous advances are being repaid when an individual requests a new FTB advance, the maximum new advance amount is reduced by the original amount of any unrepaid advances (disregarding any outstanding advance with a balance of less than 5c).
Note: In the table above, 'adjusted Part A rate' means the person's FTB Part A rate disregarding the FTB Part A supplement (1.2.1) and any reduction in their FTB Part A due to existing FTB advances. Standard rate for a child under 13 means the FTB Part A child rate for one child under 13 years of age worked out under FAAct Schedule 1 clause 7 (disregarding clauses 8 to 11 of that schedule).
Amounts worked out under this topic are rounded to the nearest cent (rounding 0.5c upwards).